Phreesia down in after-hours trading following earnings miss, net loss widens sharply

Dec. 08, 2021 5:38 PM ETPhreesia, Inc. (PHR)By: Jonathan Block, SA News Editor

Shares of Phreesia (PHR +1.2%) are down 5.6% in after-hours trading after reporting FQ3 2022 earnings that missed EPS estimates.
Net loss in the quarter widened 441% to $36,343,000 compared to the prior-year period.
Phreesia was hit in the quarter by a nearly tripling of sales and marketing expenses in the quarter to ~$32M, and R&D expenses that shot up 166% to $15,273,000 compared to the prior-year period.
That helped to outweigh the 45.4% year-over-year revenue increase to ~$56M in the quarter.
The company had $400.4M in cash as of Oct. 31, 2021.
While Phreesia boosted its FY 22 revenue outlook, it expects adjusted EBITDA of $-64M.
Over the summer, Phreesia partnered with the developers of the Safe Environment for Every Kid ("SEEK") model to automate delivery of its screening tool.